Allspring Global Investments Holdings LLC Boosts Stock Holdings in MakeMyTrip Limited $MMYT

Allspring Global Investments Holdings LLC raised its position in MakeMyTrip Limited (NASDAQ:MMYT) by 43.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,365,505 shares of the technology company’s stock after buying an additional 413,087 shares during the period. Allspring Global Investments Holdings LLC owned 1.23% of MakeMyTrip worth $51,725,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Leonteq Securities AG bought a new position in MakeMyTrip in the 4th quarter valued at $29,000. Parallel Advisors LLC boosted its holdings in shares of MakeMyTrip by 244.8% in the 3rd quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock worth $37,000 after buying an additional 284 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of MakeMyTrip in the 4th quarter worth about $46,000. Stone House Investment Management LLC boosted its holdings in shares of MakeMyTrip by 50.0% in the 4th quarter. Stone House Investment Management LLC now owns 600 shares of the technology company’s stock worth $49,000 after buying an additional 200 shares during the last quarter. Finally, Rakuten Securities Inc. grew its position in MakeMyTrip by 893.9% during the fourth quarter. Rakuten Securities Inc. now owns 656 shares of the technology company’s stock valued at $54,000 after buying an additional 590 shares during the period. Institutional investors own 51.89% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Zacks Research lowered MakeMyTrip from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Citigroup restated a “buy” rating on shares of MakeMyTrip in a research note on Tuesday, May 19th. The Goldman Sachs Group set a $84.00 price target on MakeMyTrip in a research report on Saturday, June 27th. Wall Street Zen downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Finally, HSBC began coverage on MakeMyTrip in a report on Thursday, July 2nd. They issued a “buy” rating and a $70.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.75.

MakeMyTrip Stock Performance

NASDAQ:MMYT opened at $54.62 on Friday. The business’s fifty day moving average is $48.46 and its 200 day moving average is $53.07. The firm has a market cap of $6.08 billion, a price-to-earnings ratio of 218.48 and a beta of 0.98. MakeMyTrip Limited has a 52-week low of $32.67 and a 52-week high of $104.99.

MakeMyTrip Company Profile

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.